Claims against Bayer have more than doubled the number of plaintiffs that Roundup causes cancer.
Since early July the number of plaintiffs claiming that the herbicide Roundup causes cancer has grown from 18,400 to 42,700. The $63 billion acquisition of Monsanto by Bayer AG has opened it up to thousands of lawsuits about the herbicide and its active ingredient glyphosate.
Three juries have found the products caused non-Hodgkin lymphoma; awarding multi-million dollars to the plaintiffs. Roundup cancer trials set for the St. Louis area, in the former home state of Monsanto, this summer and fall have been delayed until next year.
MARKET VALUE DROP
This has chopped nearly 30% off Bayer’s market value. This loss has resulted in some investors calling for Bayer to reach a settlement. A settlement below $20 billion would be positive for Bayer’s share price. Reaching a settlement would be difficult given that Roundup is still being sold. This would make it hard for the company to reach an agreement that would prevent future plaintiffs coming forward.
Source: The Wall Street Journal, “Claims Against Bayer Increase”, Thursday, October 31, 2019